POET Technologies (NASDAQ:POET) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Key Points

• POET Technologies reported a quarterly loss of ($0.21) EPS, which missed analysts' expectations of ($0.11) by ($0.10).
• The company's stock price increased by 0.5% during trading, reaching $5.52, with a market capitalization of approximately $500.11 million.
• Analysts upgraded POET Technologies from a "strong sell" rating to a "hold" rating in May 2023, reflecting a potential change in investor sentiment.

POET Technologies (NASDAQ:POET - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10), Zacks reports.

POET Technologies Stock Up 0.5%

NASDAQ:POET traded up $0.03 during trading hours on Monday, reaching $5.52. 1,552,011 shares of the stock were exchanged, compared to its average volume of 2,613,228. POET Technologies has a twelve month low of $2.46 and a twelve month high of $7.79. The business has a 50-day moving average of $5.36 and a two-hundred day moving average of $4.60. The company has a market capitalization of $500.11 million, a price-to-earnings ratio of -7.46 and a beta of 0.32.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of POET Technologies from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.

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